In a departure from recent tender offers in Europe, Spain’s Bankia had a higher-than-expected take-up, according to a release by Barclays Capital analyst Dipesh Mehta.

The bank ended up repurchasing €1.37 billion ($1.82 billion) spread among 14 RMBS tranches. It had offered to buy back a €2.38 billion consisting of 17 RMBS tranches.

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